R-15.1 - Supplemental Pension Plans Act

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146.78. An insufficiency of contributions relating to service after the valuation date must be offset by the application, as provided for in the plan, of one or a combination of the following recovery measures:
(1)  an increase in member contributions or the establishment of such contributions, in the case of a non-contributory plan;
(2)  an increase in the employer contribution;
(3)  a reduction in the benefit target relating to such service.
A recovery measure referred to in subparagraph 2 of the first paragraph must comply with the following limits, set by the plan:
(1)  the maximum employer contribution; and
(2)  the maximum increase in employer contributions in respect of the recovery measures.
Those limits must be expressed in the form of an hourly rate or a rate of the remuneration of, or a percentage of the total payroll for, the active members.
2020, c. 302020, c. 30, s. 61.